Are you paying all your workers the national minimum wage? If not, the penalties increase substantially at the beginning of March.
The current penalty is 50% of the total wages underpaid since 6 April 2009, subject to a maximum of £5,000. This will increase to 100% of the total underpayment, subject to a maximum of £20,000. Paying arrears before HMRC catch up with you will avoid the penalty.
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One of the UK’s leading tax experts, Robert was awarded the 2013 Lifetime Achievement award at LexisNexis Taxation Awards (which are the gold standard of excellence in the UK tax industry).